Daily iron ore price update (roll over)

“Steel mills across China are ramping up their steel production as Tangshan sintering cuts kick in. This means firm demand for iron ore in the ferrous complex,” said Darren Toh, a data scientist with Singapore-based steel and iron ore analytics firm Tivlon Technologies.

“The rebound in prices recently echoed robust demand in September and October, but it has come to an end now,” said Wu Shiping, an analyst at Tianfeng Futures, adding market expects cooling demand in winter.

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